Pinnacle sets up Alterum IM


Pinnacle Investment Management has announced it has established a new affiliate, Alterum Investment Management, which will be led by Andrew Champion, an executive chairman of the listed investment company (LIC), Blue Sky Alternative Access fund (BAF).
Alterum’s initial mandate would be to manage the BAF’s assets, with effect from 1 January, 2019, subject to various conditions such as entering into a new management services agreement with BAF.
The announcement followed a departure of Blue Sky Alternative Investments’ chief financial officer (CFO), Matthew Whyte, which was announced to the Australian Securities Exchange (ASX) earlier this morning.
The new entity would focus on private markets multi-management and alternatives investment management, particularly in the area of managing unlisted assets such as agriculture, infrastructure, credit and private equity.
Pinnacle’s managing director, Ian Macoun, said that the move was expected to further strengthen the firm’s commitment to the LIC market.
Alterum would also take the assets managed in LICs by Pinnacle affiliates to over $2 billion while Pinnacle would be the majority shareholder of Alterum.
Recommended for you
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
Nuveen has appointed a global head of estate, a successor to Chris McGibbon who steps down after almost 25 years.